Board and Corporate Governance

Board Committees

To assist and support the Board in the discharge of its responsibilities, the following standing Board Committees have been established:

  • Audit, Risk & Compliance Committee
  • Governance & Nominations Committee
  • Remuneration Committee
  • Investment Committee
  • Public Policy Committee

Each of these Committees is comprised of up to four non-executive Directors, although relevant senior managers also attend. The President & Chairman of the Board of the Association is an ex-officio member of all Committees. Composition of each of the standing Committees is reviewed annually and minutes of all Committee meetings are provided to the Board.

The Board may establish other committees to deal with specific issues as and when required.

The activities and delegated authority of each of the standing Committees is incorporated within a Board approved Charter for each respective Committee.

The main functions of each of the Committees are:

Audit, Risk & Compliance Committee

The Committee is appointed by the Board to investigate, consider and make recommendations to the Board regarding financial and risk management matters.

The primary responsibilities of the Committee include:  oversight of the Risk Management Plan and compliance program; engagement of external auditors; and accounting policies.

Governance & Nominations Committee

The Committee is appointed by the Board to investigate, consider and make recommendations to the Board in regard to corporate governance and related matters including:  RAA Board elections; casual Board vacancies; and Board operations.

Remuneration Committee

The Committee is appointed by the Board to investigate, consider and make recommendations to the Board in regard to remuneration, superannuation and related matters.

Investment Committee

The Committee is appointed by the Board to investigate, consider and make recommendations in relation to the investment of Association assets, and is responsible for the management of the Association’s investment portfolio, in accordance with the Board approved investment policy.

Public Policy Committee

The Committee is appointed by the Board to review, consider and make recommendations to the Board on significant public policy issues including:  transport planning and financing; road design and standards; environmental and legislative issues; vehicle design; consumer protection; and education.